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Strategies & Market Trends : Options
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To: AmericanVoter who wrote (6202)4/8/2000 2:32:00 PM
From: Jill  Read Replies (1) of 8096
 
I'm going to pay my taxes on time but am considering the following possibility: most likely there will be continued recovery in April. I really don't want to sell ANYTHING I have but particularly when it has not yet recovered enough. You apparently can charge your taxes (or at least some of them). You could do that on an American Express for instance, and then pay it off by mid May, and you might well save a good amount of $, because whatever stocks you sell in a month might be significantly higher than they are today. (Or if you were going to use margin your capaacity might be greater. That makes me too nervous--use margin to pay taxes). And for Amex there is no interest charge. So it's really just giving yourself another month of market recovery.

However, I have no idea if one can just charge up a whopping amount of $ on AMEX or whether they'd question it. The reason I am suggesting AMEX is you HAVE to pay it off the next month. You would not want to get into a scenario of putting it on a regular Visa or Mastercard and then not paying it off. That would be very bad indeed.

Apparently you can also pay a portion now, with your completed return, and then pay a month or two later. You'll have a penalty but I don't believe it will be huge. I think the problem with penalties is they add up month after month. But then, again I am speculating here and not sure. I prefer to pay on time.

It's just a few thoughts. Most likely this scenario is facing various people and we may have another retest of lows in a week or so.
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